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Revenue for the AgencyOne of the major revenue sources for the Redevelopment Agency was tax increment. At the time a redevelopment project area was formed, the then-current assessed value of the project area was determined (base year). As redevelopment activities became successful, development and property transfers occurred, thereby increasing the project's assessed values. The project area then generated a higher level of property taxes as a result of the assessed value growth from development. Under redevelopment, a portion of the growth in property tax revenues resulting from assessed value growth was allocated to the redevelopment agency to fund its program, as shown in the graph to the right.

Housing FundTwenty percent of annual tax increment revenues received by the agency were deposited into a separate Housing Fund which were to be used by the agency to increase, improve and preserve the City's supply of affordable housing for persons of low and moderate income. The agency had the ability to spend monies from the Housing Fund either within a project area or subject to findings of benefit, outside a project area.

Payments & DistributionThe Community Development Commission was obligated to make payments on base-year assessments to City, county and other taxing entities, including school districts, as well as pay a certain percentage above the base year amount. Said payment amounts varied depending upon the date the project area was established and any subsequent modifications to the project area, and had to be consistent with those requirements established by the state health and safety code.

The remaining tax increment revenues allocated to the agency were to be used for its general redevelopment programs, including funding the acquisition of property, construction of public improvements and other similar program elements.